Quantum computing stocks, including Rigetti Computing Inc. (NASDAQ:RGTI), D-Wave Quantum Inc. (NYSE:QBTS) and IonQ Inc. (NASDAQ:IONQ), are trading lower Thursday, following mixed earnings reports from Rigetti and D-Wave earlier this week, as turmoil at Nvidia Corporation (NASDAQ:NVDA) and a falling broader market weigh on technology stocks.
- D-Wave Quantum shares are sliding. What’s behind QBTS decline?
Rigetti Missed Revenue; D-Wave’s Bookings Fell
Rigetti reported third-quarter revenue of $1.41 million on Tuesday after the market closed, down about 28% from a year earlier and well below the consensus estimate of $3.52 million, with no hardware revenue recognized in the quarter. Its adjusted loss was 6 cents per share, wider than the consensus estimate of a loss of 5 cents.
Rigetti kept its 2026 revenue guidance of about $20 million, but with $10.9 million booked in the first nine months, nearly all of the remaining target depends on customers accepting its C-DAC system in the fourth quarter.
D-Wave reported a third-quarter loss of 13 cents per share, wider than the consensus estimate of a loss of 10 cents, and revenue of $4.51 million, up 21% and ahead of the consensus estimate of $4.33 million. D-Wave’s bookings fell 19% in the quarter to $1.9 million, though they are up 611% for the first nine months.
IonQ’s Strong Results Couldn’t Buck the Quantum Selloff
IonQ reported third-quarter results on Nov. 5, including GAAP net income of $564.0 million, which reflected a non-cash gain on warrants, and it raised its 2026 revenue guidance to between $505 million and $515 million. Quantum computing represented about two-thirds of new contract dollars signed by its IonQ Platform segment.
IonQ’s stronger quarter helped lift the group last week, but quantum stocks tend to trade as one theme, so weaker reports from smaller peers can weigh on the whole group even when one company reports better.
Nvidia Turmoil Is Also Weighing on Technology Stocks
Nvidia shares fell sharply after the Wall Street Journal reported that its board is preparing to remove CEO Jensen Huang following reports about extramarital affairs, and the selloff in the AI and chip sector may be spilling over into quantum names. Nvidia has worked with quantum computing companies on hybrid quantum and classical systems, which links the group to its fortunes.
Trump Says U.S. Doesn’t Need Iran Deal; Oil Prices Move
In a Truth Social post early Thursday, President Donald Trump said the United States does not need a deal with Iran, writing that “we’ve got their money, Hundreds of Billions of Dollars, and we’ve got their Strait.” The claim about Iran’s money hasn’t been independently verified.
In the same post, Trump said he asked Vice President JD Vance to focus on what he called crime and corruption in Democrat-run states, and the post didn’t cite evidence. Oil prices briefly rose after the post, following a slide to their lowest levels since August after Trump said the Iran war was effectively over.
Quantum Stocks Tumble
Price Action: At the time of publication, D-Wave Quantum shares are trading 3.99% lower at $10.23, IonQ shares are trading 4.48% lower at $32.53, and Rigetti shares are trading 2.43% lower at $10.84, according to data from Benzinga Pro.
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